Power Financial

Type: Public
On the web: http://www.powerfinancial.com
Employees: 30,000
Employee growth: 15.4%

Power Financial gets a charge out of insurance and investments. The holding company seeks controlling stakes in financial services companies in the US, the UK, and Canada. Core investments include 73%-owned Great-West Lifeco (subsidiaries include Great-West Life Assurance, Canada Life, and London Life Insurance, leading providers of insurance in Canada). Lifeco's US subsidiary, Great-West Life & Annuity Insurance, provides employee benefits and retirement plans. Boston-based fund manager Putnam Investments is also part of the family. Power Financial owns about half of IGM Financial, which owns Investors Group and Mackenzie Financial, distributors of mutual funds and other investment products and services.

Key numbers for fiscal year ending December, 2008:
Sales: $29,849.7M
One year growth: 2.2%
Net income: $1,093.4M
Income growth: (47.5%)

Officers:
Co-Chairman: André R. Desmarais
Co-Chairman: Paul Desmarais Jr.
President, CEO, and Director: R. Jeffrey Orr

Competitors:
AXA Financial
Manulife Financial
RBC Financial Group

Power Financial Corporation (TSX: PWF) is a subsidiary company of Power Corporation of Canada.

Corporate governance

Current members of the board of directors of Power Financial are: André Desmarais, Paul Desmarais, Paul Desmarais, Jr., Gérald Frère, Anthony Graham, Robert Gratton, Don Mazankowski, Jerry Nickerson, Michel Plessis-Bélair, Raymond Royer, Guy St-Germain, and Emöke Szathmáry.

Directors emeritus of the company are: James W. Burns and Michael Pitfield.

External links

• Power Financial website

v • d • e Power Corporation Assets                       Power Corporation of Canada                             Frère-Bourgeois/CNP Groups                                                                                                                     Gesca Limitée                           Power Financial                                                                                                                                       La Presse     Cyberpresse.ca       Great-West Lifeco           IGM Financial         Power Financial Europe B.V.                                                                                                 La Tribune     Le Nouvelliste   The Great-West Life Assurance Company     Great-West Life & Annuity Insurance Co   Investors Group     Mackenzie Financial       Parjointco N.V.                                                                                           Le Droit     Le Soleil   London Life Insurance Company     Canada Life Financial   Investment Planning Counsel Inc                 Pargesa Holding S.A.                                                                                   Le Quotidien                                                 Groupe Bruxelles Lambert

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